Belfast Harbour has announced strong financial results for 2023, showing an increase in annual turnover and operating profits despite a challenging global trading environment. The Harbour's annual turnover reached £82.9 million, marking a 7% increase from the previous year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 4% to £46.3 million.
Despite ongoing uncertainty in the global economy, the port trade remained steady with a total tonnage of 23.9 million tonnes passing through Belfast Harbour, only a 2% decrease from the previous year. The Roll-on Roll-off freight traffic saw a record 4% increase, reaching 610,000 freight units while ferry passenger numbers remained stable at 1.7 million.
Belfast Harbour's partnership with Stena Line delivered exceptional results, contributing to the record-breaking freight traffic. Moreover, the Harbour welcomed 158 cruise ship calls, bringing in 320,000 passengers and crew and contributing approximately £25 million to the local economy through cruise tourism.
The year 2023 also witnessed major developments within the Harbour Estate, including the construction of a state-of-the-art temperature-controlled warehousing facility and the expansion of Belfast Harbour’s film studio offering. Significant progress was also made in the development of social and affordable housing.
The Harbour's commitment to improving the local community was evident through its investment of £310,000 in community and charitable programs, including support for grassroots organizations and charities.
Dr. Theresa Donaldson, Chair of Belfast Harbour, expressed confidence in the organisation's dedication to the economy and wider society. She highlighted the landmark capital investment of £65 million as a testament to the Harbour's ethos as a Trust Port and its commitment to driving economic growth and creating social value.
Looking ahead, Joe O’Neill, Chief Executive Officer of Belfast Harbour, emphasised the organisation's determination to accelerate its contribution to the economy and local communities, building on its achievements and widening its positive impact on the region.
